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  • #41
  • Edited Nov 27, 2023 10:51am Nov 26, 2023 10:44pm | Edited Nov 27, 2023 10:51am
Quoting The Fool
1dte SPX IC for Monday:
....watching the puts, as /es down 12-14 now, but I am bullish generally. we'll see.

I have 10c closing orders set for each side.

...filled both b4 noon. Wish they were all this easy.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #42
  • Edited Nov 28, 2023 10:39am Nov 27, 2023 4:03pm | Edited Nov 28, 2023 10:39am
took this shot at 1dte SPX call fly for Tuesday...
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..1130 EST, sitting at be, need SPX >4575 to make decent monee
"If The Fool persists in his Folly he will become wise." - William Blake
  • #43
  • Edited 3:01pm Nov 30, 2023 11:56am | Edited 3:01pm
For Friday....need to hit one a these...

...netted 35c in the last 15 min of the day....it went to $1.00 net in the last 5 minutes....brutal
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #44
  • Nov 30, 2023 2:57pm Nov 30, 2023 2:57pm
...here's the look @ 3:55... the richest results happen in the last 1/2 hour, if only you can pin the short strikes...

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"If The Fool persists in his Folly he will become wise." - William Blake
  • #45
  • Nov 30, 2023 4:05pm Nov 30, 2023 4:05pm
Got in tomorrow's call fly today as SPX was down around 4,545....hopefully now will be no big gap up Fri morning. I am putting in a $3.00 close order against the 80c debit, will adjust at Fri open....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #46
  • Nov 30, 2023 6:49pm Nov 30, 2023 6:49pm
My fantasy for Friday is RUT pops well off some dovish JPow words. The Friday ex-move up is 1,828. I missed entry at Friday close with the closing spike up, but will shoot for another at the Friday open. See if there will be some theta drain at the open and I can get into the trade below for 80c ,,,,subject to adjustment, we'll see if it moves much overnight.

I generally want to get in these $10-wing flys @0dte for 75c or lower, fora fly that brackets the exmove in the front half of the spread.

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"If The Fool persists in his Folly he will become wise." - William Blake
  • #47
  • Edited 10:49am Dec 1, 2023 10:23am | Edited 10:49am
out of thee Friday SPX fly above for $1.10 net, as SPX sat at 4,575. Good trade.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #48
  • Dec 1, 2023 2:14pm Dec 1, 2023 2:14pm
Quoting The Fool
My fantasy for Friday is RUT pops well off some dovish JPow words. The Friday ex-move up is 1,828. I missed entry at Friday close with the closing spike up, but will shoot for another at the Friday open. See if there will be some theta drain at the open and I can get into the trade below for 80c ,,,,subject to adjustment, we'll see if it moves much overnight. I generally want to get in these $10-wing flys @0dte for 75c or lower, fora fly that brackets the exmove in the front half of the spread.
...fantasy came true, Russell up 2.5%, blew past the midbody of the fly above, which I did not take. Monday will be a new day....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #49
  • Dec 5, 2023 9:50am Dec 5, 2023 9:50am
entered Dec5 SPX call fly, 4585/4600/4615, for 90c, looking for at least $1.00 net
"If The Fool persists in his Folly he will become wise." - William Blake
  • #50
  • Dec 5, 2023 10:05am Dec 5, 2023 10:05am
Quoting The Fool
entered Dec5 SPX call fly, 4585/4600/4615, for 90c, looking for at least $1.00 net
In for 90c, out for $2.00, a solid double. Took about 20 minutes. Watch now, it'll go to >$8, but that's ok, I'm still just shooting singles at these flys until I feel like I'm getting good at it.
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #51
  • Dec 5, 2023 2:58pm Dec 5, 2023 2:58pm
ENTERED Dec06 SPX 4580/4590/4600 calls for $1.05 debit.

The little green run in the first 90 minutes was the best of the day, so I did as well as possible with today's fly. Always like getting out early, we'll see what tomorrow brings...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #52
  • Dec 5, 2023 4:29pm Dec 5, 2023 4:29pm
looking for tech to lead the way north...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #53
  • Dec 5, 2023 6:10pm Dec 5, 2023 6:10pm
Quoting The Fool
ENTERED Dec06 SPX 4580/4590/4600 calls for $1.05 debit. ...
That's right, come on in my kitchen. Bout time we saw a decent green gap up.
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #54
  • Edited 11:25pm Dec 5, 2023 11:08pm | Edited 11:25pm
Quoting The Fool
I need to paper trade this one, looks intriguing....
....pairing a 0dte short straddle with a 30-day long strangle is something I would have never thought of. I'm always looking for cheap entries, and as shown, just a one lot of this in SPX will cost >$1,200. But the very high POP is intriguing, if true, so I will trade them to see how to manage the daily rolls...

I am showing the trade based on a 1dte entry, with both straddle & strangle entered near the 1dte close, but the best entry will be made early in the 0dte. The curve will look different on the 0dte entry. Looks like theoretical maxP is around $2k, but we'll see.

The mechanics are: sell an 0dte atm straddle, then buy a 30-day strangle @ the 30-day expected move.
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #55
  • Dec 5, 2023 11:50pm Dec 5, 2023 11:50pm
Quoting The Fool
{quote}....The mechanics are: sell an 0dte atm straddle, then buy a 30-day strangle @ the 30-day expected move.
the trade has a pretty high bp hit ($14-15,000) for a 1-lot. But the double diagonals should offset bp. MaxP is $2k? PoP is 80%. Based on tatsy research.

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"If The Fool persists in his Folly he will become wise." - William Blake
  • #56
  • Dec 7, 2023 2:22pm Dec 7, 2023 2:22pm
if we get a Goldilocks NFP, we can break north to 4,650...maybe a Festivus miracle, we'll see...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #57
  • Dec 7, 2023 5:43pm Dec 7, 2023 5:43pm
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #58
  • Dec 7, 2023 8:01pm Dec 7, 2023 8:01pm
perfect NFP porridge will get a 50+ move north, a pin @ 4,650

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"If The Fool persists in his Folly he will become wise." - William Blake
  • #59
  • Edited 10:22am Dec 20, 2023 9:46am | Edited 10:22am
PAPERTRADING Tasty 0dte double diagonals, with alterations

Tasty method is enter each diagonal with atm front and 30dte back, with back options set at the 30dte expected move. This gives you an atm straddle and a 30dte strangle. Management recommended: recenter the straddle after taking 20% profit. Not sure what they do on losers, but you'd roll the losing side probably to avoid loss.

Using 1-lot XSP because that's where I'd start live trading this. I am using a 7dte strangle instead of 30dte, with strangle options set near the 7dte exmove:
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..initial credit $0.97, setting to buy the straddle at $0.75, but will adjust based on pa.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #60
  • Edited 1:57pm Dec 20, 2023 10:55am | Edited 1:57pm
Quoting The Fool
..initial credit $0.97, setting to buy the straddle at $0.75, but will adjust based on pa.
so far, a good day to sell a XSP straddle, as it's in a <50c range...

oops, I messed that above above & have a 1dte straddle on the call side. I know some people trade these diagonals with 1- or 2dte straddles. I meant both sides to be 0dte. Nevertheless, I see the obvious on a tight range day: unless there's a breakout, I will likely not have to manage and can close both sides @ >50% profit...

....spoke too soon. Always an argument for taking safe profit early. Big dump at 1430 would have stopped out the put diagonal...
"If The Fool persists in his Folly he will become wise." - William Blake
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